Will Sony’s VOD Release of The Interview Change Hollywood?

With Sony’s recent video-on-demand and cinematic debut of “The
Interview,” the entire industry could be permanently reshaped, with other
studios giving this business model a second look. In just four days, the movie
earned $15 million and became the company’s highest-grossing online release
ever.

Previously, other attempts for day-and-date simultaneous VOD and theatrical
release have been mocked, shutdown entirely, or only involved low budget
independent films. The high profile of “The Interview,” combined with A-list
stars like Seth Rogen and James Franco, was certainly a factor here.

In mid-2014, Warner Bros. was the first major studio to
participate in this multiplatform distribution format, with “Veronica Mars” – a
film that achieved funding via Kickstarter.

However, in the past, things were a bit different. In 2011, Universal Pictures
wanted to release the comedy “Tower Heist” on VOD three weeks after being in
theaters. Cinemas refused to allow this to happen, expressing concerns about
sales.

Later that year, Lionsgate and Roadside Attractions made a
day-and-date gamble though. Drama “Margin Call” attracted a lot of attention
that December for making $4 million on VOD and streaming while also in
theaters.

In a bit of foresight, Roadside co-president Howard Cohen said
at the time that “I think the possibility has always been lurking out there … the
question has been picking a movie with potential to do it.”

It seems like “The Interview” was a decent choice. As
experts and studio heads continue to examine its performance, it’s certainly
possible that day-and-date multiplatform release will become more of a
commonality in regards to major motion pictures.

“I really don’t care how people see my movies, as long as
they see them … I’m just not interested in controlling how somebody experiences
one of my films.”

Provided that other directors feel similarly, it seems
likely that this model is ripe for expansion.

Worth noting, 2014 box office revenues were down five percent over the previous year, the largest decline in nearly a
decade.

Perhaps a shakeup like increasing the frequency of day-and-date VOD releases is
exactly what Hollywood needs, and this current experiment with “The Interview” could prove
to be the groundbreaking event that makes this a reality.